Following a document given by the Ministry of Education, the Federal Executive Council (FEC) approved the formation of 37 new private Universities around the country on Monday.
Briefing journalists after the special meeting presided over by Vice President Yemi Osinbajo, the Minister of Education Adamu Adamu, said with this approval, there are now 72 private universities in the country.
Adamu stated that the approval was given considering the importance of education in bolstering the economic fortunes of the country.
On his part, the Minister of Labour and Employment, Chris Ngige, said the Council also approved the Universal Implementation of the Employee Compensation Act (ECA) 2010.
He explained that the law is operated by the Nigeria Social Insurance Trust Fund (NSITF), noting that it is a replacement of the old Employee Compensation Act that was known as “Workmen Compensation”.
According to him, the Council has approved it for universal implementation, “meaning that apart from the private sector, that is already implementing, the public sector, which is government – federal, state and local governments – have now to adopt this for the protection of their workers”.